A wig, three identities and crores gone missing: Anatomy of a ‘share market’ con
Rohan Bhushan Sheth, a 56-year-old man, was arrested by the Economic Offences Wing on July 3, 2025, for allegedly running a fraudulent investment scheme. Sheth promised investors monthly returns of up to 5% on their investments in the share market, hosting them at his luxury apartments in Sion and Matunga. He left Mumbai with two large suitcases and was subsequently found in Valsad, Gujarat.
The EOW has identified 42 investors from Maharashtra and Gujarat who invested around Rs 5 crore, resulting in alleged losses of about Rs 30.26 crore. Sheth allegedly used three identities - Jayesh Hasmukhbhai Shah, Rahul Atulbhai Parekh, and Rohan Bhushan Sheth - and possessed a wig to give the appearance of a full head of hair.
He allegedly lived in three high-end properties, owned luxury vehicles, and had expensive watches. The investigation uncovered that Sheth had allegedly used investor funds to purchase these properties, vehicles, and watches.
Written by urgent.news from The Indian Express's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
